NEW YORK ( TheStreet) -- The Commerce Department reported the deficit on international trade in goods and services was $41.5 billion in September, up from $24.9 billion prior to the economic recovery.Imported oil and subsidized imports from China account for nearly all of the $500 billion annual trade gap. Dollars spent abroad that do not return to buy U.S. exports reduce demand for U.S. goods and services, and slack demand is the principal reason for slow growth and jobs creation in the U.S.
Trade Deficit, 'Fiscal Cliff' Threaten Economy
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